🔁Fees

Fees and swapFee function

Woken Exchange is a fork of UniswapV2 (x × y = k)

The classic UniswapV2 model charges a 0.3% swap fee, which is accrued by the liquidity provider as LP token.

setSwapFee Function

The Woken Certified Projects can customize their liquidity pair's swap fees using the setSwapFee function. They can move from 0.3% (default fees) to a maximum of 1% These fees are accumulated as LP tokens for the liquidity providers of the pair.

function setSwapFee

WokenPair.sol

function setSwapFee(uint32 _swapFee) external {
        require(_swapFee >= 3, "Woken: lower then 3");
        require(msg.sender == factory, 'Woken: FORBIDDEN');
        require(_swapFee <= 10, 'Woken: FORBIDDEN_FEE');
        swapFee = _swapFee;
    }

WokenFactory.sol

function setSwapFee(address _pair, uint32 _swapFee) external isPairAdminDao(_pair) {
        WokenPair(_pair).setSwapFee(_swapFee);
        emit SwapFeeChange(_pair, _swapFee, msg.sender);
    }

FeeOn (FeeTo) enabled

The fee for the Woken protocol (FeeOn) is 1/6th of the fee of a liquidity pair, accrued as LP token. They are mainly used for :

1. Proving liquidity to the WKN-USDC LP on the Arbitrum chain (genesis LP) by adding WKN from our reserve + USDC from fees earned.

2. Create new WKN-USDC pairs (with our WKN reserves) on other blockchains to open up the DAO and welcome new Certified Projects.

3. WKN buyback to keep a minimum amount of WKN to reward the DAO protocol votes (or burn, according to a protocol vote).

4. Pay the maintenance and the development of the protocol

5. Marketing

In Woken V2, we aim to open stable pairs (USDT-USDC) based on a UniswapV3 model, offering 0.01% swap fees.